assignment

· The paper topic is failures and achievements of Argentina and Turkey 2001 economic crisis (Contrasting responses to emerging market crisis)

· References should be taken from Öniş, Turkish Economic Crisis, Akyüz, Boratav World Development 2003

· key words: IMF, Emerging market crisis, foreign borrowing, ISI policies, causes of crisis, EU memberhips

· Format

· The paper should be approximately 3000 words long, including everything.

· You are advised to use standard margins, 12pt, Times New Roman font, and double-spacing.

· On the first page of your paper, include your identity information: your name, student ID number, and course code. Also, include the word count of your paper on the first page.

· Structure

· The paper should ideally have four sections: An introduction, two main sections, and a conclusion.

· Content

· Avoid repetition and unnecessary detail. Only include details that are relevant to your argument.

· References

· Make sure you only include references you have actually used.

· Use high-quality sources, such as academic literature, reports (e.g. by the World Bank, OECD, etc.) and sectoral publications. If you do need to draw on newspaper articles (for instance, because you are writing about very recent events and developments), then make sure you are drawing on high-quality publications.

Here is the , I have abstract related to my research that I wrote and the format

At the beginning of the 20th century, many countries struggled with the economic stagnation, infrastructure, lack of capital and political instabilities because some countries were industrially developed but other countries had problems with mass production in order to make capital accumulation. Argentina and Turkey were new emerging markets depended on developed countries because comparative advantages of developed countries were more than less developed countries. Developed and economically good conditions countries had high industrial capacity and technology. In 2001, Argentina and Turkey experienced economic crisis in related reasons during the neo liberal restructuring process and their resolutions for economic crisis were the same. They both used the external factors for recovering their economies. They took a financial aid from IMF. However, they were emerging markets and their infrastructure was not compatible with IMF demands but they had to apply its demand for recovery. Argentina and Turkey were also new unconsolidated democracies and IMF demands were more liberal policies and it made Argentina and Turkey less vulnerable when they immediately implemented capital account liberalization. IMF conditions were very hard conditions like high interest rate debt and devaluation. Turkey and Argentina really managed the economic crisis successfully but there were also some negative politics, economic and social effects. IMF intervention in countries caused economic inefficiency, political unsustainability and corruption because IMF-led Washington Consensus program included not only economic policies but also social issues including privatization, fiscal discipline, trade liberalization, export promotion and deregulation of labor market. There were actually transformations between inward oriented models to export oriented models especially in these countries. When Argentina and Turkey accepted these recipes, the recovery process from IMF was so difficult for Argentina and Turkey because they were new emerged market and their industries were not highly developed. Small industrials which were gaining profit in small areas had problems with the high inflation. Countries tried to transform export oriented models but domestic markets had influenced negatively at that process. Therefore many protests and corruption occurred. I will analyze political and economic failures and achievements of 2001 crisis in both countries Argentine and Turkey at that recovery process